Inspire Investing LLC Invests $903,000 in Ceragon Networks Ltd. (NASDAQ:CRNT)

Inspire Investing LLC acquired a new position in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 193,366 shares of the communications equipment provider’s stock, valued at approximately $903,000. Inspire Investing LLC owned about 0.23% of Ceragon Networks at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Sei Investments Co. lifted its position in shares of Ceragon Networks by 45.7% during the second quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock valued at $69,000 after buying an additional 8,607 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Ceragon Networks during the 2nd quarter worth approximately $56,000. JPMorgan Chase & Co. purchased a new stake in Ceragon Networks during the third quarter valued at approximately $104,000. XTX Topco Ltd acquired a new stake in Ceragon Networks in the third quarter valued at approximately $152,000. Finally, Walleye Capital LLC grew its holdings in Ceragon Networks by 95.1% in the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after purchasing an additional 138,411 shares during the last quarter. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Price Performance

Shares of CRNT stock opened at $5.09 on Friday. The business has a fifty day moving average of $4.44 and a 200 day moving average of $3.29. The firm has a market capitalization of $434.79 million, a price-to-earnings ratio of 23.14 and a beta of 1.60. Ceragon Networks Ltd. has a 1 year low of $2.33 and a 1 year high of $5.73.

Analyst Ratings Changes

CRNT has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $6.00 price objective on shares of Ceragon Networks in a report on Thursday, January 16th. Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a research note on Monday, October 28th. Litchfield Hills Research started coverage on Ceragon Networks in a research note on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price target on the stock. Finally, Roth Mkm started coverage on shares of Ceragon Networks in a research report on Monday, October 28th. They issued a “buy” rating and a $4.50 price objective for the company. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $6.83.

Ceragon Networks Profile

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.